How Would You Deal with the Inevitable Breaches of 2023?

Large-scale breaches are inevitable in 2023 as a result of cyber criminals speeding up their attacks against businesses today. In the past two months, T-Mobile, LastPass, and the Virginia Commonwealth University Health System have all faced a number of severe breaches.

In the data breach incident in T-Mobile, around 37 million of the company’s customer record was compromised before being discovered by the US-based wireless carrier, on January 19. Password management platform, LastPass has had a variety of attacks that resulted in the identity of 25 million users being compromised.

VCU, on the other hand, announced a breach earlier this month wherein information on over 4,000 organ donors and recipients was exposed for more than 16 years.

Even After Investing in Robust Cybersecurity, Breaches may only Increase in 2023

Company CEOs and board members tend to invest in advanced cybersecurity systems in order to acquire better risk control and management strategy. According to Evanti’s State of Security Preparedness 2023 report, 71% of CISOs and security experts believe their budgets will rise this year by an average of 11%.

They added further that a record $261.48 billion will be spent on information and security risk management globally in 2026, up from $167.86 billion in 2021. The unsettling paradox is that despite these constantly rising cyber security and zero-trust budgets, ransomwar

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This article has been indexed from CySecurity News – Latest Information Security and Hacking Incidents